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Hibernia Management and Development Company Ltd

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About Hibernia Management and Development Company Ltd:

The Hibernia oil field is the largest oil field discovered to date in the Jeanne d'Arc Basin on the Grand Banks offshore Newfoundland, Canada. It is located approximately 315 kilometres east-southeast of St. John's, Newfoundland in approximately 80 metres of water

The field consists of two principal reservoirs of early Cretaceous age - the Hibernia and the Ben-Nevis-Avalon reservoirs - located at average depths of 3,700 meters and 2,400 meters respectively. There are approximately 477 M m3 (three billion barrels) of oil in place, of which roughly 120 M m3 (750 million barrels) are estimated to be recoverable.

The Hibernia Platform currently consists of a Topsides facility, a Gravity Based Structure (GBS) and an Offshore Loading System (OLS).

The Topsides facilities, composed of five super modules, accommodates all drilling, producing and utility equipment on the Hibernia Platform, whilst also providing living quarters. The Topside facilities were designed to have a capacity of 23,800 m3/d (150,000 barrels) of oil production per day. The facilities have since been debottlenecked to provide capacity to produce approximately 28,600 m3/d (180,000 barrels) of oil per day.

The Topsides is supported by a concrete GBS. The GBS, which sits on the ocean floor, is 111 meters high and has a storage capacity for 207,000 m3 (1.3 million barrels) of crude oil. The GBS is specially designed to withstand the impact of sea ice and icebergs to allow for year-round production operations.

The Offshore Loading System (OLS) consists of subsea flowlines, a subsurface buoy and flexible loading hoses. A second completely redundant system has also been installed.

The complete platform was towed to the Hibernia oil field and positioned on the ocean floor in June 1997 and began producing oil in November 1997.

The Hibernia field is operated by the Hibernia Management and Development Company (HMDC). HMDC is an agency company formed by the field owners to oversee the development and production of the field. The owner companies are ExxonMobil Canada Properties, ExxonMobil Canada Hibernia Company Ltd., Chevron Canada Resources, Petro-Canada Hibernia Partnership, Murphy Atlantic Offshore Oil Company Ltd., Norsk Hydro Canada Oil & Gas Inc. and Canada Hibernia Holding Corporation.

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